Since 1950, the corporate tax burden has fallen by 40%

[wtmusic]

An AP story about the debt limit crisis in the paper today was titled, "Making Do With Less" - implying the solution was smaller government. Because this meme irritates me to no end, I found an Excel table of the historical relationship between tax receipts and GDP at whitehouse.gov. I admit I was surprised to see that the ratio has remained fairly steady over the last 60 years, at around 20%.

Digging a little deeper, I discovered another table which tells the true story of the disappearing middle class: in 1950, corporations came up with 66% as much taxes as individuals did; in 2016 it will be 26%.

http://www.whitehouse.gov/sites/default/files/omb/budget/fy2012/assets/hist01z1.xls

"Making Do With Less" indeed...fewer $200,000 bonuses, fewer private jets, fewer vacation homes...

[senseandsensibility]

1. K, R, and thanks for posting.

eom

[DCKit]

2. Huge bump during the "war crime" years.

Guess the just couldn't help it... too much income.